According to a new analysis from the on-chain data platform “IntoTheBlock,” Bitcoin is expected to reach its next peak in the summer of 2025, based on historical patterns associated with “halving” cycles. In a recent post on platform X (formerly Twitter), “IntoTheBlock” explained that the price of Bitcoin has dropped by nearly 12% from its price during the last halving event, which was around $63,900. These expectations are based on historical records showing that Bitcoin often achieves a new price peak approximately 480 days after each halving event, indicating the possibility of the currency reaching a price peak in mid-2025.
Current Bitcoin Price :
Currently, Bitcoin is trading at $59,447.00, with a slight increase of 1.28% as of September 9, according to CoinMarketCap data. This slight recovery comes at a time when the market is experiencing post-halving movements, with investors anticipating a new strong price surge.
The Relationship Between Halving and Price Increases :
Bitcoin halving events occur approximately every four years, where the mining reward is halved, reducing the amount of new Bitcoin available in the market. This supply shortage enhances its value and typically leads to significant price increases, with peaks occurring around 480 days after each halving event
Historical Price Peaks of Bitcoin :
Historical data shows that Bitcoin often experiences a significant rise after halving events. After the 2016 halving, Bitcoin reached its historical peak in December 2017, and after the 2020 halving, it peaked in November 2021. This pattern is repeating in the current cycle, with expectations that Bitcoin will reach a new peak in the summer of 2025.
Market Overview :
As of September 2024, Bitcoin’s price is trading at $55,008.11, reflecting a slight recovery after previous declines. Despite this recovery, Bitcoin is still 12% away from its price during the last halving, which was $63,900. Many believe this period is a consolidation phase, with expectations of significant price increases as Bitcoin approaches its next peak in 2025
Factors Driving Bitcoin’s Price :
Several factors contribute to the dynamics of Bitcoin’s price in the current cycle, the most prominent being the halving effect that reduces supply, leading to price increases over time. Additionally, global economic factors such as inflation and economic instability enhance Bitcoin’s appeal as a safe asset for investors.
Bitcoin Peak Forecast for 2025 :
The forecast from the IntoTheBlock platform for a new peak in the summer of 2025 aligns with broader market expectations, as Bitcoin is anticipated to surpass previous price peaks and potentially break the $100,000 barrier.
Source : ida2at.org
